Citation issued: March 13, 2020
Samuel Theodore Gray Cole
Citations are authorized by the Law Society of BC's Discipline Committee and list allegations against a lawyer that will be considered at a discipline hearing. Please note that allegations in a citation are unproven until a discipline hearing panel has determined their validity.
Nature of conduct to be inquired into:
1. Between approximately March 19, 2014 and April 3, 2014, you counseled and or facilitated KR, the principal of your client C Ltd., a publicly listed entity, to indirectly purchase shares of C Ltd. when you knew, or ought to have known, that indirect participation by the principal in the private placement financing contravened the directive of a securities regulator, contrary to rules 2.2-1 and 3.2-7 of the Code of Professional Conduct for British Columbia.
This conduct constitutes professional misconduct, pursuant to section 38(4) of the Legal Profession Act.
2. Between approximately February 4, 2014 and April 3, 2014, you counseled and or facilitated KR, the principal of your client C Ltd., a publicly listed entity, to indirectly purchase shares of C Ltd., without making reasonable inquiries as to whether KR was in possession of material undisclosed information regarding C Ltd. such that KR’s direct or indirect participation in the share purchase may contravene section 57.2(2) of the Securities Act, RSBC 1996, c. 418, contrary to rules 2.2-1 and 3.2-7 of the Code of Professional Conduct for British Columbia.
This conduct constitutes professional misconduct, pursuant to section 38(4) of the Legal Profession Act.
3. On or about March 10, 2014 and April 2, 2014, you assisted your client C Ltd., a publicly listed entity, in filing documents with a securities regulator that represented there was no undisclosed material information about C Ltd., without making reasonable inquiries about the accuracy of those representations in circumstances where inquiries were required, contrary to rules 2.2-1 and 3.2-7 of the Code of Professional Conduct for British Columbia.
This conduct constitutes professional misconduct, pursuant to section 38(4) of the Legal Profession Act.